Tether is based out of Singapore if I'm correct and they currently have a USD cryptocurrency peg called USDT. But is there a EURO or CNY currency peg like USDT?
Please check https://www.ardorgate.eu/about-us/. In Ardor blockchain platform, AEUR child chain tokens are backed by real EUR by Ardorgate company in cooperation with https://www.mistertango.com bank. Difference with tether is, that tether claims all USDT in existence are backed by USD, while Ardorgate peg and back AEUR, which are in circulation (not in child chain owner account) to real EUR.